“We are harming you. But if you defend yourself, you're going to start a fight,” said Asia Society Executive Vice President Jamie Metzl, referring to the proposal by the U.S. Senate aimed at punishing China for keeping the yuan undervalued. In an interview hosted by Matt Miller on the Bloomberg television program Fast Forward, Metzl debated the China currency bill with Dan Ikenson, associate director for trade policy at the Cato Institute.

This week, Vice President Biden travels to China to face his creditors. He is hoping to calm unease over the United States' much-criticized debt-ceiling deal and an upcoming decision on arms sales to Taiwan.

On Thursday, US Secretary of Treasury Timothy Geithner expressed concern China is manipulating its currency, as senators from both parties expressed impatience with the Obama administration’s reliance on negotiation with Beijing, saying so far it has yielded few gains.

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